Oil India Ltd's Q1FY19 standalone net profit rises 56.2% yoy to Rs703.2cr : Misses Estimates

The company’s standalone revenue stood at Rs3,390.5cr, up 45.41% yoy

Aug 14, 2018 03:08 IST India Infoline Research Team

Oil India Ltd Q1FY19

Standalone Results Q1FY19: (Rs. in cr)

Q1FY19 YoY (%)
Revenue 3,390.5 45.4
EBITDA 1,408.4 61.1
EBITDA Margin (%) 41.5 405
Net Profit (adjusted) 703.2 56.2
***EBITDA margin change is bps
Oil India’s Q1FY19 numbers have been mixed bag with in-line sales and EBITDA, while net profit has come below estimates. Sales have grown by 45.4% yoy to Rs3,390.5cr from Rs2,331.7cr in Q1FY18, as against the expectations of Rs3,367cr. EBITDA increased by 61.1% yoy to Rs1,408.4cr during the quarter from Rs874.1cr in Q1FY18, as against estimated EBITDA of Rs1,403cr. EBITDA margin increased by 405bps yoy to 41.5% in Q1FY19. Net profit during the quarter jumped by 56.2% yoy to ~Rs703.2cr vs. Rs450.2cr in Q1FY18 as against expectations of Rs878cr.

• Crude Oil price realisation increased by US$23.59/BBl to US$ 72.00/BBl in Q1FY19 as compared to US$48.41/BBl during Q1FY18.

• Average Natural gas price realisation during Q1FY19 is US$3.06/MMBTU as compared to US$ 2.48/MMBTU in Q1FY18.

• Crude Oil production for Q1FY19 is 0.844 MMT which is same to the crude oil production during Q1FY18.

• Natural gas production during Q1FY19 is decreased by 3.87% to 696 MMSCM as compared to 724 MMSCM during Q1FY18 due to short upliftment by certain consumers.

• Oil India in consortium with Assam Gas Company & GAIL Gas Ltd., has been allotted two geographical areas, namely Cachar, Hailakandi & Karimganj Districts and Kamrup & Kamrup Metropolitan Districts in the state of Assam in the recently concluded 9th round of City Gas Distribution (CGD) bidding by PNGRB.

Technical View:

Oil India Ltd ended at Rs. 211.45, down by 2.4 points or 1.12% from its previous closing of Rs. 213.85 on the BSE.
The scrip opened at Rs. 213.10 and touched a high and low of Rs. 215.85 and Rs. 210.25 respectively. A total of 5,84,926 (NSE+BSE) shares were traded on the counter. The stock traded above its 200 DMA.

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